Principal Securities Inc. Purchases 7,791 Shares of The Coca-Cola Company (NYSE:KO)

Principal Securities Inc. raised its holdings in The Coca-Cola Company (NYSE:KO) by 8.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 102,005 shares of the company’s stock after purchasing an additional 7,791 shares during the quarter. Principal Securities Inc.’s holdings in Coca-Cola were worth $7,330,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KO. New Millennium Group LLC bought a new position in shares of Coca-Cola in the 2nd quarter worth $26,000. Quarry LP bought a new stake in Coca-Cola during the second quarter worth $27,000. ESL Trust Services LLC bought a new stake in shares of Coca-Cola in the 1st quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola in the 3rd quarter valued at about $36,000. Finally, DiNuzzo Private Wealth Inc. boosted its stake in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on KO. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Citigroup lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley cut their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Bank of America raised their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $71.80.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at approximately $5,074,330.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 58,122 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,074,330.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 261,870 shares of company stock valued at $18,256,369 in the last quarter. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.9 %

Shares of KO stock opened at $65.31 on Friday. The business’s 50 day moving average is $70.39 and its two-hundred day moving average is $66.21. The company has a market capitalization of $281.34 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 4.00 and a beta of 0.60. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a twelve month low of $56.06 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the firm posted $0.74 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. Equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.